This paper uses data from the 1985 Côte d'Ivoire Living Standards Survey to examine pay differences between teachers and other wage earners in Côte d'Ivoire. The analysis controls for differences in human capital endowments, hours worked, and various personal characteristics. The results indicate that the base salaries of teachers contain a rent component which, however, disappears when the total remuneration package is considered, i.e. including in-kind benefits, bonuses, and commissions which are widely received by non-teachers. These findings call for much caution when considering policy options for teacher salaries in a context of budgetary restrictions.